The stock market was indicated to open a bit soft on Friday, but this is after two major reversal days after the Trump victory and the Dow hitting new all-time highs. Friday has equity market participation, but the bond market and banks are closed for Veterans Day.
Investors have to act fast since the election, if they wanted to win off the stocks that benefit from Trump and they have seen that the stocks that would win under Clinton have been slaughtered. Even if investors are not that nimble and may have not yet acted, they are still likely looking for new ideas in a market where valuations are high and when interest rates are likely to rise.
24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for our readers. Some of these analyst research reports cover stocks to buy, and others cover stocks to sell or avoid.
These are the top analyst upgrades, downgrades and initiations seen on Friday morning:
Archer Daniels Midland Co. (NYSE: ADM) was downgraded to Underweight from an already cautious Neutral rating and the price target was cut to $36 from $42 (versus $45.18 close) at JPMorgan. ADM shares were indicated down 1% at $44.69 on Friday, with a consensus analyst target price of $45.80 and a 52-week range of $29.86 to $47.88.
Genworth Financial Inc. (NYSE: GNW) was raised to Buy from Neutral at Compass Point. Shares closed up 0.7% at $4.00 on Thursday and were indicated up 2% at $4.09 on Friday. Its consensus analyst price target was $4.75 and its 52-week trading range is $1.57 to $5.27.
NVIDIA Corp. (NASDAQ: NVDA) was down 3% at $67.77 on Thursday ahead of earnings but was last seen up 13% at $76.65 on Friday’s early indications. Jefferies reiterated its Buy rating and raised its price target to $95 from $80, and it called the stock still its top pick with $5 in earnings per share power ahead. Barclays raised its rating to Equal Weight from Underweight as this growth story has kept getting away from the firm.
Walt Disney Co. (NYSE: DIS) was up 0.3% at $94.96 ahead of earnings, and a slower departure of ESPN customers on earnings had shares indicated up 2% at $96.99 on Friday morning. Merrill Lynch reiterated its Buy rating and $125 price objective. Barclays raised its rating from Underweight to Equal Weight with an $89 price target, and Pivotal Research has downgraded it to Hold from Buy.
SunPower Corp. (NASDAQ: SPWR) was downgraded to Neutral from Buy and the price target was slashed to $7 from $13 at UBS. The stock closed at $6.32 on Thursday, but this was a $7.35 stock before the unexpected Trump upset over Clinton.
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Other key analyst upgrades and downgrades were seen as follows:
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